Noodles & Company (NASDAQ:NDLS) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Noodles & Company (NASDAQ:NDLS) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.76 and traded as low as $0.7159. Noodles & Company shares last traded at $0.73, with a volume of 630,236 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NDLS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Noodles & Company in a report on Wednesday, October 8th. Benchmark lowered Noodles & Company from a “buy” rating to a “hold” rating in a report on Friday, August 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Noodles & Company Stock Down 8.6%

The firm has a 50 day moving average of $0.73 and a 200-day moving average of $0.76. The firm has a market capitalization of $34.15 million, a P/E ratio of -0.74 and a beta of 1.52.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings results on Wednesday, November 5th. The restaurant operator reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $122.09 million during the quarter, compared to the consensus estimate of $119.77 million. As a group, research analysts expect that Noodles & Company will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NDLS. XTX Topco Ltd bought a new stake in shares of Noodles & Company during the 1st quarter valued at approximately $31,000. Goldman Sachs Group Inc. increased its holdings in Noodles & Company by 331.0% in the first quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator’s stock valued at $121,000 after purchasing an additional 84,987 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Noodles & Company in the first quarter valued at about $41,000. Institutional investors own 65.67% of the company’s stock.

About Noodles & Company

Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.